BankDhofar and Newgen Software Win the Asian Banker Award for “Best Enterprise Governance Risk and Compliance Implementation in Middle East”

New Delhi: Newgen Software, a global provider of digital transformation platform, is pleased to announce that BankDhofar and Newgen Software have been recognized for “Best Enterprise Governance Risk and Compliance Implementation in Middle East” at The Asian Banker Middle East and Africa Awards, 2021.

BankDhofar leveraged Newgen for transforming its governance, risk, and compliance (GRC) measures, including automation of customer risk assessment, IFRS staging, and global caution list check. Furthermore, the bank successfully streamlined its key financial processes, including sales turnover, gross profit ratio, operational profit, net profit, and cash profit.

Commenting on the award, Ahmed Said Al Ibrahim, Chief Operating Officer at BankDhofar said, “We are happy to be recognized with this award. Newgen has been a reliable partner and has helped us integrate our GRC strategy to reduce data isolation within the Bank, ensure visibility in processes, and enable better cross-functional collaboration among various departments.”

“This award reinforces our continued commitment towards our clients. We are glad to be BankDhofar’s technology partner and look forward to supporting them in their current and future digital transformation initiatives,” said Virender Jeet, CEO, Newgen Software.